24M Technologies Launches Cheaper-to-Produce Lithium-Ion Cell

A Cambridge, Mass. battery startup company called 24M Technologies Inc. has debuted a lithium-ion cell that may dramatically reduce manufacturing and materials costs, an important step for making electric vehicles and stationary energy storage viable.

The claim is that the batteries will cost 50% less to produce than current lithium-ion batteries, and by 2020 the cost would fall below $100 per kilowatt hour, which is considered the threshold for mass adoption of electric vehicles. Today, the estimates of battery costs range wildly between $300 per kilowatt hour and $500 per kilowatt hour.